Tony Kuczinski
About Tony Kuczinski
Anthony (Tony) J. Kuczinski, age 66, is an independent director of Hagerty, Inc. (HGTY), appointed effective July 9, 2024. He spent 34 years at Munich Re US, including 15 years as President & CEO, and later served as Executive Advisor to Munich Re US’s Board of Management upon retiring as CEO in 2023. He founded LST Risk Concepts, LLC to provide strategic advisory services in insurance, and holds a bachelor’s degree in business administration from Pace University with advanced executive education completed via AICPCU and The Wharton School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Munich Reinsurance US Holdings (Munich Re US) | President & CEO; Executive Advisor to Board of Management | 15 years as CEO; Executive Advisor post-2023 | Led U.S. operations; senior leadership across reinsurance; strategic oversight |
| NY Marine & General Insurance Company | Chief Operating Officer | Not disclosed | Senior operating role in insurance carrier |
| Coopers & Lybrand | Audit practice | Not disclosed | Foundation in financial controls and auditing |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Skyward Specialty Insurance Group | Lead Independent Director | Current | Lead independent oversight; specialty P&C focus |
| Ryan Specialty | Director | Current | Oversight at wholesale broker in P&C insurance |
| LST Risk Concepts, LLC | Founder; Strategic and leadership advisor | Current | Advisory services to senior insurance executives |
Board Governance
- Independence: Board determined all nominees other than McKeel Hagerty are independent; Kuczinski is independent under NYSE/SEC rules .
- Committees: Member, Talent, Culture, and Compensation Committee (Compensation Committee). Committee is fully independent; chaired by Sabrina Kay .
- Meeting cadence and attendance: In 2024 the Board held 7 meetings; Audit 6; Nominating & Governance 5; Compensation 10; Finance & Capital 8. Company disclosed all directors attended at least 75% of meetings of the Board and committees on which they served .
- Lead Independent Director and executive sessions: Bill Swanson is Lead Director with authority to call meetings of independent directors and lead executive sessions; he approves agendas/schedules with the Chair .
Fixed Compensation
| Year | Cash Components | Amount | Notes |
|---|---|---|---|
| 2024 | Fees earned (cash) | $44,056 | Prorated for mid-year appointment (July 9, 2024). Standard schedule in 2024: Board retainer $85,000; Audit/Comp committee membership $7,500; Nom/Gov or Finance committee membership $5,000; Audit/Comp chair $15,000; Nom/Gov or Finance chair $8,500; Lead Director $— (2024 disclosed only as fees earned in total for each director) . |
| 2025 (Structure) | Annual Board retainer | $85,000 | Effective April 1, 2025 . |
| 2025 (Structure) | Committee membership retainers | Audit $10,000; Comp $7,500; Nom/Gov $5,000; Finance $5,000 | Effective April 1, 2025 . |
| 2025 (Structure) | Chair retainers | Audit $20,000; Comp $15,000; Nom/Gov $10,000; Finance $10,000 | Effective April 1, 2025 . |
| 2025 (Structure) | Lead Director retainer | $30,000 | Effective April 1, 2025 (not applicable to Kuczinski) . |
| 2025 (Structure) | Board Chair retainer | $75,000 | Directors who are also management do not receive additional Board compensation . |
| 2025 (Structure) | Hagerty Re board retainer | $5,000 | If applicable . |
Performance Compensation
| Year | Equity Grant Type | Grant Value | Vesting | Metrics |
|---|---|---|---|---|
| 2024 | RSUs (prorated for appointment) | $65,589 | Vests 100% on April 1, 2025 | Director RSUs are time-based; no performance conditions . |
| 2025 | RSUs (annual grant) | $125,000 | Vests 100% on April 1, 2026 | Director RSUs are time-based; no performance conditions . |
| Performance Metric | Weight | Measurement Period | Notes |
|---|---|---|---|
| None (Directors) | N/A | N/A | Hagerty director equity awards are time-based RSUs; no disclosed director performance metrics, options, or PSUs . |
Hagerty’s proxy describes executive PRSUs tied to Adjusted Operating Income and stock-price hurdles; these do not apply to non-employee directors. Director equity is designed for alignment and retention via time-based vesting .
Other Directorships & Interlocks
| Entity | Relationship to HGTY | Overlap/Conflict Considerations |
|---|---|---|
| Skyward Specialty Insurance Group (Lead Independent Director) | External | Same sector (specialty P&C). No HGTY-related transactions disclosed with Skyward; monitor informational conflicts in insurance ecosystems -. |
| Ryan Specialty (Director) | External | Insurance wholesale broker. No HGTY-related transactions disclosed with Ryan Specialty; monitor potential ecosystem overlaps -. |
Expertise & Qualifications
- Insurance and reinsurance leadership (Munich Re US CEO for 15 years; 34-year career), with COO and audit backgrounds, positioning him as a strong human capital and risk/underwriting voice on the Compensation Committee .
- Governance and board leadership (Lead Independent Director at Skyward Specialty; director at Ryan Specialty), supporting compensation oversight and talent strategy .
- Financial and control literacy from audit experience; complements Hagerty’s focus on disciplined growth and regulated insurance operations .
Equity Ownership
| Holder | Class | Shares | % of Outstanding | Notes |
|---|---|---|---|---|
| Anthony Kuczinski | Common | 4,000 | <1% | Beneficial ownership as of April 4, 2025 . |
- Director stock ownership guidelines: 5x annual retainer; currently $425,000 required. Directors have 5 years from appointment to comply; Board evaluates hardship exceptions. As of the proxy date, only CEO McKeel Hagerty and directors Rob Kauffman and Bill Swanson were disclosed as meeting the thresholds; Kuczinski was not listed among those already compliant (newly appointed in 2024) .
- Anti-hedging and anti-pledging: Directors are prohibited from hedging and pledging Hagerty stock without written approval from the Board and Chief Legal Officer .
Governance Assessment
- Board effectiveness and independence: Kuczinski is independent and serves on the fully independent Compensation Committee, aligning with NYSE requirements despite Hagerty’s “controlled company” status. His insurance domain expertise strengthens compensation and human capital oversight .
- Ownership alignment: As a mid-2024 appointee, his current beneficial ownership is modest (4,000 shares) versus the $425,000 director guideline; he has five years to achieve compliance. This is typical for new directors but merits tracking for alignment progress .
- Conflicts and related-party exposure: The proxy discloses extensive related party arrangements with HHC (Hagerty family), Markel, and State Farm (strategic partners). No related-party transactions are disclosed for Kuczinski or entities associated with his external board roles (Skyward Specialty, Ryan Specialty) - .
- Attendance and engagement: Company reported that all directors met at least 75% attendance across Board/committee meetings in 2024, with a robust meeting cadence (Board 7; Compensation 10), indicating active engagement; individual director attendance rates are not disclosed .
- Structural considerations (RED FLAGS): Hagerty’s controlled company status (HHC holds over 50% voting power) reduces certain NYSE governance protections and maintains concentrated control until at least December 2, 2036, potentially constraining minority investor influence. This is an issuer-level consideration, not specific to Kuczinski, but relevant to overall governance risk .
Overall signal: Kuczinski’s deep insurance leadership and independent status on the Compensation Committee are positives for governance quality. Alignment should improve as he builds ownership under the five-year guideline. No director-specific conflicts are disclosed; continue monitoring given insurance-sector interlocks and Hagerty’s controlled-company dynamics -.